A Value Proposition describes the benefits the product delivers and why it is worth your money.

  • Title insurance provides coverage for losses due to defects in the title that occurred prior to your ownership. It is your only protection against things such as unpaid taxes and liens, judgments against the seller, fraud or forgery on deeds and wills, missing heirs, transfer of title by a minor or other issues that might go undetected until after closing which could possibly jeopardize your ownership and investment.
  • Title insurance is different from other forms of insurance because it insures against events that occurred before the policy is issued, as opposed to insuring against events in the future, as health, property or life insurance do.
  • Title problems are discovered in more than one-third of residential real estate transactions. These “defects” must be resolved prior to closing. The most common problems are existing liens, unpaid first and second mortgages, and recording and clerical errors of names, addresses or legal descriptions.
  • There are two types of title insurance policies. The owner’s policy protects the buyer’s equity up to the purchase price; if there is a new loan, the lender’s policy protects the lender’s interest in the property up to the loan amount.
  • An owner’s title policy will protect and defend your investment if any claims are made against the title to your property at no additional cost to you.
  • The industry major claim categories have historically been in these primary areas – marital status of owner was incorrect; actual fraud or forgeries occurring in the transaction; defective deeds and transfer of title; and errors in the records and/or clerical errors.
  • Title insurance is a one-time fee regulated by the state and is paid at closing.
  • In a nutshell, the title insurance industry is in place to assure the accuracy of real estate transactions.